DGAP-Adhoc: GAGFAH S.A.: Ad hoc notification: April 06,

GAGFAH S.A. / Change of Personnel

06.04.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg
ISIN: LU0269583422
Frankfurt Stock Exchange, Regulated Market (Prime Standard)

Ad hoc notification of GAGFAH S.A. in accordance with § 15 of the Security
Trading Act (WpHG)

Luxembourg, April 6, 2009 - Mr. Burkhard Drescher has today resigned as
managing director of GAGFAH S.A.'s operating subsidiaries GAGFAH GmbH,
GAGFAH M Immobilien-Management GmbH and WOBA DRESDEN GmbH and of GAGFAH
S.A.'s subsidiaries NILEG Immobilien Holding GmbH, Gagfah Holding GmbH and
WOBA HOLDING GmbH and will not, as contemplated initially, continue to
serve as managing director of these companies through July 31, 2009. Mr.
William Joseph Brennan in his capacity as successor of Mr. Drescher as
previous Chief Executive Officer (i.e. Chairman of the Management Board of
GAGFAH GmbH and of the German GAGFAH Group) will assume responsibility for
the management of these operating subsidiaries.


Contact:

GAGFAH S.A.
Investor Relations
2-4, rue Beck
L-1222 Luxembourg
Tel.: +352 266 366 1
info@gagfah.com
www.gagfah.com
R.C.S. Luxembourg B 109.526


About GAGFAH S.A.

GAGFAH S.A. is a joint stock corporation organized under the laws of the
Grand Duchy of Luxembourg qualifying as a securitization company under the
Luxembourg Securitization Law of March 22, 2004. The core business of
GAGFAH S.A.'s operating subsidiaries is the ownership and management of a
geographically diversified and well maintained residential property
portfolio located throughout Germany. With a portfolio of over 170,000
apartments, GAGFAH is the largest German listed residential property
company.
DGAP 06.04.2009 
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Language:     English
Issuer:       GAGFAH S.A.
              2-4, rue Beck
              1222 Luxemburg
              Luxemburg
Phone:        + 352 266 366 21
Fax:          + 352 266 366 01
E-mail:       info@gagfah.com, skliche@gagfah.com
Internet:     www.gagfah.com
ISIN:         LU0269583422, LU0269583422
WKN:          A0LBDT
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News                                     DGAP News-Service
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DGAP-Adhoc: GAGFAH S.A.: Ad hoc notification: April 06, 2009
